"Indian Insurance Industry, since opening to competition, has undergone a metamorphic change in my view. Right from business procurement to processing and execution, through technology adoption, innovative product design, customer-centric adaptability, and servicing, the sector is now in a dominant position, making its mark in the global arena."

Ex-MD of GIC India and CMD of Oriental Insurance and National Insurance (addl charge) and Insurance Ombudsman, Mumbai

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B. D. Banerjee Ex-MD of GIC India and CMD of Oriental Insurance and National Insurance (addl charge) and Insurance Ombudsman, Mumbai

About Mr. B.D. Banerjee

At 84, octogenarian Mr B.D. Banerjee remains as fit as a fiddle. What began as a stroke of serendipity evolved into one of the most distinguished careers in Indian general insurance.

A member of the third batch of direct recruit officers at LIC in 1963, BD - as he is affectionately known - was among 89 Indian officers selected alongside trainees from Bangladesh (then Pakistan) and Sri Lanka. When the legendary Dr D. Subramanium of the Officers' Training College, Nagpur, announced that 17 officers would be assigned to the general insurance portfolio, the selection was made by lottery. Banerjee was among them.

Initially crestfallen at not receiving a conventional LIC posting, he found reassurance in the prophetic words of the renowned faculty member Mr. Chatterjee: "Mark my words, general insurance will soon be nationalised." That chance assignment became the defining turning point of his life.

His journey began in 1964 at Jalpaiguri, where he was entrusted with starting the general insurance business for LIC. From those modest beginnings, he rose steadily through the ranks with remarkable distinction - eventually becoming Managing Director of GIC and later Chairman-cum-Managing Director of The Oriental Insurance Company Limited. He also held the additional charge of CMD of National Insurance Company Limited, a rare dual responsibility that reflected the immense trust reposed in him.

A Philosophy graduate from the prestigious Presidency College in 1960, he earned his Master's degree from the University of Calcutta in 1962. Quintessentially a Bengali